Baltimore, MD - Jan. 16, 2024  - The Baltimore Sun, Maryland's largest newspaper, has been sold by hedge fund Alden Global Capital to David Smith, the executive chairman of the local TV company Sinclair, according to Axios. This sale is significant because it returns ownership of the Sun to a local owner after nearly four decades. The Sun had been owned by Alden Global Capital since 2021 when it was acquired as part of Tribune Publishing. The paper was originally sold by its local owner in 1986 to Times Mirror Co., which eventually became part of Tribune Publishing. In 2021, there was an attempt to sell the Sun to a nonprofit backed by a local billionaire, but that deal fell through.

David Smith's acquisition includes other Baltimore-area publications, and he plans to focus on local community news and video while expanding the Sun's commercial business through new advertising and subscription strategies. Currently, the Sun's backend functions will still be operated by Tribune, but Smith intends to eventually operate the paper as a standalone business. It's worth noting that Smith has supported conservative and local causes through his foundation and expressed criticism of the "mainstream media" in an interview about the deal.